May. 8 at 4:41 PM
$HVT At least things aren't getting worse for Haverty. Furniture has seemingly hit a bottom. SSS were up for the 3rd consecutive quarter, up 4.3%. But they were not good last year so they are coming off of low comps. We will see what happens later this year when we lap the prior year. With consumer sentiment at 50 year lows, and the housing market still stalled, there is unlikely to be much more upside. But Haverty has a great balance sheet, with no debt. It's sitting on
$114.1 million in cash. It is buying back shares, paying a dividend (yield of 6.1%) and opened new stores in Dallas, Atlanta and Fredericksburg, VA. It's just waiting for a recovery in housing. But it's going to have to wait until 2027. (no position)
